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4-Traders Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  OPEL Technologies Inc    OPL   CA6834881006

OPEL TECHNOLOGIES INC (OPL)
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OPEL Technologies Inc : OPEL Technologies Announces Results of Annual Meeting

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06/22/2013 | 12:22am CET
OPEL Technologies Inc.

Head Office: Operations Office:

Suite 501, 121 Richmond St. W 3 Corporate Drive, Suite 204

Toronto, ON, M5H 2K1 Shelton, CT 06484

Phone: (416) 368-9411 Phone: (203) 612-2366

Fax: (416) 861-0749 Fax: (203) 944-0800

NEWS RELEASE

OPEL Technologies Announces Results of Annual Meeting

Toronto, ON and Shelton, CT June 21, 2013 - OPEL Technologies Inc. (TSX-V: OPL and OTCQX: OPELF) ("OPEL" or "the Company") today announced that its Annual General & Special Meeting ("AGM") took place earlier today and that the shareholders approved the change of the Company's name to "POET Technologies Inc.", the New By-Law No. 1, the 2013 Stock Option Plan and the election of the following nominees to the Board of Directors as was proposed in the Information Circular:

Mark Benadiba Peter Copetti Adam Chowaniec John F. O'Donnell Dr. Samuel Peralta Leon M. Pierhal Dr. Geoff Taylor Chris Tsiofas
All directors received the required majority vote from shareholders. In a subsequent Board Meeting that followed the AGM, the Board reappointed the following executive officers for the Company:
Mark Benadiba, Executive Chairman
Leon M. Pierhal, President & Chief Executive Officer Kevin Barnes, Treasurer & Chief Financial Officer Lee Shepherd, Vice President of Technology
Michel Lafrance, Corporate Secretary
Blaine Grisel, Controller
The shareholders also approved the re-appointment of Marcum LLP, Accountants & Advisors, of New
Haven, Connecticut, as the auditors of the Company for the ensuing year.
Shareholders were presented with updates by Mark Benadiba, the Executive Chairman, and Leon M. Pierhal, the Chief Executive Officer of OPEL, on the status the Company. Each reinforced that the core component of the Company's strategy going forward is to continue to develop the POET platform. POET enables monolithic fabrication of integrated circuit gallium arsenide devices containing both electronic and optical elements on a single wafer.
Following the AGM, shareholders were provided the opportunity to take a tour of the ODIS facility to further reinforce the stated objective to drive monetization efforts of the POET platform. Shareholders in attendance were welcomed by the ODIS Team at the facility and given a showcase of the intricacy of this breakthrough technology.

About OPEL Technologies Inc.

###
OPEL is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications,

OPEL Technologies Inc. - News Release of June 21, 2013 Page 2

including infrared sensor arrays and ultra-low-power random access memory; and through OPEL Solar, Inc., provided systems for energy applications. The Company has 32 patents issued and 6 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL" and on the OTCQX under the symbol "OPELF". For more information please visit our websites at www.opeltechinc.com; for OPEL Solar at www.opelsolar.com; and for ODIS at www.odisinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS

For further information: Patricia Venneri Agudow

Vice President, Public Relations
Tel: +1 (203) 612-2366 Ext. 2612 [email protected]

Michel Lafrance, Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Financials ( CAD)
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 1,83  CAD
Spread / Average Target 694%
Managers
NameTitle
Suresh Venkatesan Chief Executive Officer & Director
David E. Lazovsky Executive Chairman
Thomas R. Mika Chief Operations & Financial Officer
John Frederick O'Donnell Director
Chris Tsiofas Independent Director
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